Prices, Markets, and the Pharmaceutical Revolution

  • Title:

    Prices, Markets, and the Pharmaceutical Revolution
  • Format:

    Paperback
  • Paperback Price:

    9.95
  • Paperback ISBN:

    0-8447-7147-3
  • Paperback Dimensions:

    8.25'' x 5.5''
  • 96 Paperback pages
  • Buy the Book

The full text of this book is also available as a PDF.

Although pharmaceutical costs have aroused controversy for decades, debate has intensified over the past year. Discussions have zeroed in on several themes, including the escalation of expenditures, particularly for the elderly, and the prices of some drugs. And now proposals to add a drug benefit to Medicare are being floated, with the specter of price controls on drugs on the horizon.

But, John E. Calfee contends, the impulse to address the price issue through political means is deeply misconceived and could thwart today's dramatic improvements in health. Using up-to-date data and sources, the author details today's "third revolution" in pharmaceuticals with a coherent explanation of the new marriage of biology with progress in clinical trials, managed care, the dynamic biotechnology industry, and even marketing and promotion. He navigates complex issues--the advances in pharmaceutical research and in the dissemination of information, the benefits to consumers, the dangers of price controls and disincentives to research--and urges Congress to exercise care in crafting changes to Medicare benefits while preserving the bright prospects for pharmaceutical advances.

John E. Calfee is a resident scholar at AEI and the author of Fear of Persuasion: A New Perspective on Advertising and Regulation.

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

John E.
Calfee
  • Economist John E. Calfee (1941-2011) studied the pharmaceutical industry and the Food and Drug Administration (FDA), along with the economics of tobacco, tort liability, and patents. He previously worked at the Federal Trade Commission's Bureau of Economics. He had also taught marketing and consumer behavior at the business schools of the University of Maryland at College Park and Boston University. While Mr. Calfee's writings are mostly on pharmaceutical markets and FDA regulation, his academic articles and opinion pieces covered a variety of topics, from patent law and tort liability to advertising and consumer information. His books include Prices, Markets, and the Pharmaceutical Revolution (AEI Press, 2000) and Biotechnology and the Patent System (AEI Press, 2007). Mr. Calfee wrote regularly for AEI's Health Policy Outlook series. He testified before Congress and federal agencies on various topics, including alcohol advertising; biodefense vaccine research; international drug prices; and FDA oversight of drug safety.

What's new on AEI

Holder will regret his refusal to obey the Constitution
image 'Flood Wall Street' climate protesters take aim at their corporate allies
image 3 opportunities for better US-India defense ties
image Is Nicolás Maduro Latin America's new man at the United Nations?
AEI on Facebook
Events Calendar
  • 29
    MON
  • 30
    TUE
  • 01
    WED
  • 02
    THU
  • 03
    FRI
Thursday, October 02, 2014 | 9:00 a.m. – 10:30 a.m.
Campbell Brown talks teacher tenure

We welcome you to join us as Brown shares her perspective on the role of the courts in seeking educational justice and advocating for continued reform.

Friday, October 03, 2014 | 12:00 p.m. – 1:00 p.m.
Harnessing the power of markets to tackle global poverty: A conversation with Jacqueline Novogratz

AEI welcomes you to this Philanthropic Freedom Project event, in which Novogratz will describe her work investing in early-stage enterprises, what she has learned at the helm of Acumen, and the role entrepreneurship can play in the fight against global poverty.

No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.